Tuesday, March 1, 2011
ORLANDO, FL --- Waves of record-setting harsh weather and blizzards across the northeast, midwest and Canada are having a warming effect on Central Florida’s second home and vacation home market.
Roger Soderstrom (middle right photo), founder and owner of Stirling Sotheby’s International Realty in Orlando, said his firm’s sales agents are receiving a record number of calls and internet leads from serious northerners who want a piece of our sunshine and warm weather.
“The severe weather up north has had a very positive impact on sales in the Orlando region,” Soderstrom said.
It isn’t just cold temperatures that are driving sales.
“At the same time as an increasing number of northerners want a respite from frigid temperatures, interest rates are at historic lows and best of all, Florida property prices down 40-60 percent from the market peak,” said Soderstrom.
That combination of motivated sellers and icy incentives is generating a stream of new prospects and serious home buyers from Canada, Illinois, Michigan, New York, New Jersey and other regions of the country, Soderstrom said.
In addition to a great selection of retail priced resale homes, an inventory of bank owned foreclosures and short sales have contributed to the buyer surge, Soderstrom said, and new home builders have slashed their costs in order to price new homes competitively.
“A buyer can find a second home or vacation home in the Orlando region or near the beaches today for about the price they would have paid in the late 1990s,” Soderstrom said.
“Demand is slowly catching up to supply, and with this new surge in buyer inquiries from winter visitors, Florida’s real estate economy could see a dramatic uptick this year,” he said.
For more information, contact:
Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com